The Thrift Savings Plan (TSP) contribution limits have been announced for 2021. The 2021 IRS annual limit for regular TSP contributions will remain at $19,500, and the TSP Catch-up annual contributions limit will remain at $6,500. TSP Catch-up contributions may be made in addition to regular TSP contributions, if you are age 50 or older (or will be turning age 50 in 2021).
The Federal Retirement Thrift Investment Board has also announced the implementation of a new method for TSP Catch-up contributions called the “spillover” method beginning January 1, 2021. Spillover will help simplify the TSP Catch-up process and will not impact the Agency Matching contributions.
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Questions may be directed to AskBenefits@nih.gov or your Benefits Contact.